9.02.2011

Canada's banking sector is dominated by a half dozen big banks which are both protected from foreign takeovers and prevented from merging with each other. They generate billions in profits from their domestic branch-bank businesses and required no bailouts during the 2008-09 crisis.

...

Europe's banks are in the grip of a debt crisis, while U.S. banks are selling assets to build up capital.

Even Canada, which has ridden a strong housing sector to a relatively even-keel economic performance over the past two years, experienced an unexpected economic contraction in the second quarter, data this week showed.

Through it all, Canadians have kept borrowing, enticed by rock bottom interest rates that have proven a double-edged sword for the banks.

Comment: I've been investing in Canadian Banks. I regard them as financial utilities paying steady dividends. Now investing in Bank of Nova Scotia (BNS)